Green finance was supposed to contribute solutions to climate change. So far, it’s fallen well short
By Simon O'Connor, Director, Sustainable Finance Hub, The University of Melbourne
Ben Neville, A/Prof and Deputy Director of Melbourne Climate Futures, The University of Melbourne
Brendan Wintle, Professor in Conservation Science, School of Ecosystem and Forest Science, The University of Melbourne
A decade ago, a seminal speech by Mark Carney, then governor of the Bank of England and current Canadian prime minister, set out how climate change presented an economic risk that threatened the very stability of the financial system.
The speech argued the finance sector must deeply embed climate risk into the architecture of the industry or risk massive damages.
It was Carney’s description that stuck,…
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Monday, November 10, 2025